Xiang Ji’s Bookshelf

Liberty Media’s chairman John Malone’s insightful talk with the FT, on the future of the media and being friends with Rupert Murdoch.

After reading his book, Peter Peterson impresses in person.

It’s that time of the year again in Sun Valley. Buffett is there and talks to someone from CNBC other than Betty Quick.

“Our business model is different that we don’t expect to pay down financing by generated revenue, but by selling assets.” – Wow, how unique is that? Every company from AIG, Citi, GM to Sumner Redstone is selling assets. And good luck on that.

The FT and Bloomberg reported over the weekend that Bank of America/Merrill Lynch has become the biggest wealth manager.

What? Since January when Morgan Stanley and Citi’s Smith Barney were merged, the new JV has been the biggest wealth manager. The source of this apparent OLD news is a research firm in the UK who based their rankings on end of 2008 asset under management. Oh…we all know news can be recycled but shouldn’t this important fact be at least acknowledged?

Learn from Mr. Soros’ wisdom while we can:

China’s Central Bank’s release of the Financial Stability Report 2008 points out why short-selling is something good for all markets. 1, its price discovery function; 2, it improves market liquidity; 3, it provides another tool of hedging risk (open to debate). You can download the report here (it’s 42.5MB! and in Chinese).

This is really old but hilarious. God bless you and god bless America.

In the competitive world of journalism, grand names mean better sources and better accessibility. But that’s not always true. In this case, Reuters kicked the New
York Times‘ S – the NYT asked a question that Reuters answered almost one month ago. You wonder how could NYT run a story so poorly informed? It also shows that in the age of Internet Twitter Iphones, people are not always better informed.